Answer to Question #115017 in Management for Nthabi

Question

detailed explanation with examples of the market environment of the

Answer 1

A market environment consists of external and internal factors.

Internal factors are company specific. They include workers and machines.

External factors compromise of micro and macro factors . Micro deal in factors that are engaged in production, distribution and promotion. Macro affect society as a whole.

These factors are demographic, economic, physical, technological, political, legal and social cultural factors.